v3.25.2
Impairments and Other Charges
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Impairments and Other Charges Impairments and Other Charges
The following table presents various pre-tax charges we recorded during the six months ended June 30, 2025, which
are reflected within “Impairments and other charges” on our condensed consolidated statements of operations.
Six Months Ended
June 30,
Millions of dollars
2025
2024
Severance costs
$107
$
Impairment of assets held for sale
104
Impairment of real estate facilities
53
Other
92
Total impairments and other charges
$356
$
Of the $356 million pre-tax charges recorded during the six months ended June 30, 2025, $201 million was attributable
to our Completion and Production segment, $85 million was attributable to our Drilling and Evaluation segment, and $70
million was attributable to Corporate and other.
During the six months ended June 30, 2025, we recorded $107 million in severance expense as we rationalized global
headcount to align with activity levels and $104 million of additional impairment charges associated with a strategic decision to
market for sale a portion of our chemical business. Additionally, we recognized a $53 million impairment related to facility
closures and lease terminations. Other charges of $92 million is primarily related to legacy environmental remediation cost
estimate increases.